Change N.Y.’s Scaffold Law?: To tackle NYC’s housing crisis, we lower the cost of litigation
Ask New Yorkers what keeps them up at night, and many will say the same thing — the cost of housing. In a recent survey, more than half the respondents said they might have to leave the city because of it. This is not just a statistic, it’s a warning sign.
A new report from the Partnership for New York City, “Excessive Litigation is Driving New York’s Affordability Crisis,” sheds light on a lesser known factor behind rising housing costs, our outdated legal system. New York’s litigation costs are 67% higher than the national average, driven by excessive lawsuits, inflated settlements, and a legal environment that encourages fraud. These costs ultimately fall on tenants, homeowners and developers.
As the new president and CEO of the New York State Association for Affordable Housing (NYSAFAH), I hear from developers across the state who are struggling to move projects forward, not because of a lack of will, but because housing costs are spiraling out of control, starting with........
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